Wednesday 30 of January 2013 at the Institute of International Relations and Economic Cooperation headquarters was held the first conference of 2013: The evolution of Romanian economy in 2013. The aggravating crisis!

Beggars on the street of Romania: a sign of failed economic policy

The conference has joined economical experts from Romania and European Union, economical supervisors and personalities of political, economical and academic life of Romania.

2009- 2012 –the first period of crisis.

The conference started with an evaluation of the impact of economic crisis in the last period: 2009-2012.

In 2009 the economic crisis has affected the vital areas of economic life: the collapse has started with construction industry and construction material factories and collapse continued by the real estate market shrinking. Others affected sectors where: insurance, banking and stock exchange and in all the financial sector was strongly shaken down. The consumer confidence has fallen sharply and the Gross Domestic Product (GDP) has being reduced with 10% in 2010 and 8% in 2011.

The decrease in Romanian economy has being so devastating that now we are below the 2000 level. Unfortunately the economic collapse of 2010-2012 has laid the foundation for a crisis without equivalent in Romanian history that will affect the country in 2013.

2011-2012: The period of economic earthquake.

2011 and 2012 will be remembered as the worst years of economic turmoil in Romania, had appreciated in one voice all the experts present at the gathering.

First of all the 2011 has being the year in which the Romanian economy had collected all the hard hits from all the economic collapse of the last years. The financial system has being especially hard hit and this had made the fragile Romanian economy to reach the breaking point. The inflation had resurfaced and the experts appreciate that a 10% percent yearly inflation is unavoidable.

The resurgence of inflation had put a dramatic pressure on population economy and had made any recovery unthinkable for the next 4-8 years.

The collapse in economic system, the internal and external investments had being reduced to minimum, the credit on internal market has being practically suspended and all this had provoke for 2012 an economic decrease of more than 15% of GDP or even 18% of GDP after others opinions. A factor not to be neglected in amplification of the crisis is the governmental incompetence that by increasing the taxes, legislative chaos and a deliberate politics of destroying the middle class investors in the favor of big companies all did nothing ells than to aggravate the economic crisis.

2013 – European economic crisis will impact hard on Romania.

The 2013 will be a decisive year to on how will be affected the Romanian economy by the European meltdown.

Until now the Romanian economy was hit hard by his own faults like: reduced productivity and competitiveness, chaos in the governmental policy, crippling inflation etc. In 2013 Romania will be affected by the decay in European economic activity.

Crisis hit Spain, Greece, and Ireland and slowing down economy of Germany, France and Great Britain, will impact negative on Romanian chances to get access to European funds and foreign investments.

Romanian economy and policy maker are not yet conceptual prepared to understand that Romanian EU membership had became a liability and a negative factor in the future of Romania, appreciated the representative of Foreign Export Company Association Mr. Marcel Alexandru.

The negative impact of European Union financial and confidence crisis will account for a 2-5% percent reduction in Romanian GDP this year.

2013 will be without a doubt a period of a new catastrophic decline. It must be very clear, all economic experts underlined, that the present economic decline will last for at least a decade at European level, so all those opinions that declared that Romania will start a new economic growth before the next 10 years; either don’t know what they are saying, either is bluntly laying.

All the European statistics are speaking about the lost decade of Europe between 2010 and 2020 , term referring to the blocking of economic development at continental level and the frozen of present situation for a decade.

Those that are declaring that Romania will surpass the period of recovering of France or Great Britain economy , are telling stories that are unbelievable , stated chief economist- Mihail Racaceanu. What is important is to succeed that we have in 2013 a decrease in real economy of less than 10% and in the interval between 2013 and 2018 to stop the decline and in 2020 to come back to pre-crisis level.

Homeless and hungry in Great Britain. How EU crisis will affect Romania ?

2013 budget- a budget of economic decline.

In 2013 the Romanian economy is coming to the fore not only with the negatives trends of the last years and a crippling inflation but also with a budget of austerity that will direct Romania to plunge into a new economic meltdown.

The 2013 budget is the first budget in the eight year period that is not approved prior to 1-th of January, a negative record that is impacting Romanian economic stability and is giving a sign of chaos in the government economic policy.

The budget expected deficit of 2, 4% percent of GDP it not offering any chance for a real economic recovery, massive investment projects are abandoned and the decline in the economy is estimated by independent economist around 8-10% percent of the GDP by the year’s end.

What is dramatic is the reduction in the direct investment in the economy, with less than 8 billion euro investment planned for this year the Romanian economy had to struggle for sustainability. Reduced foreign investment and dramatically shrinking internal private investment means that Romania will have now more that 10 billion euro (in an optimistic assessment) for investment programs. The country needs at least 20 billion per year to modernize the economy and to have a decent growth rate of 1-2% percent per year. He present day budget is not only of severe austerity but of severe contraction stated the economists present at the meeting.

Romanian economy recover postponed to 2050.

This assessment was a strong one, keeping in mind that the pre-crisis governmental statistic declared that in 2025 Romania will succeed in recuperating the gap and reach the level of industrial activity prior to 1989 Revolution.

This perspective is no longer feasible, a new perspective is appearing after the crisis and after the lost decade and a cumulative GDP decrease of more than 60% from 2007 economy level.

This economic recession will be hard to recuperate in the context of zero governmental involvement, the general economic climate of recession and finally the worst factor of all: the burden of external debt.

The resurgence of inflation will put a dramatic pressing on population economy and will make any recovery unthinkable for the next 1-2 years. The collapse in economic system, the internal and external investments will be reduced to minimum, the credit on internal market will be suspended and all this will provoke next year an economic decrease of more than 15% of GDP or even 18% of GDP after others opinions. A factor not to be neglected in amplification of the crisis in the governmental incompetence that by: increasing the taxes, legislative chaos and a deliberate politics of destroying the middle class investor in the favor of big companies all did nothing ells than to aggravate the economic crisis.

External debt risk can plunge Romania into financial meltdown.

The fear factor that will suffocate Romanian economy in the next period will be, after 2015, the foreign debt crisis.

The Emil Boc government has careless accepted more than 36 billion dollars credit and in total the private and state debt of Romania is reaching the unbelievable sum of 95 billion dollars, this only if the government will no longer accept new loans.

In 2012 the Mihai Razvan Ungureanu government succeeded in just a few months to reduce the National bank Reserves by 20 billion euro, an unprecedented squandering of public money in Romanian history.

Despite the writing on the wall, in all of cases like Greece, Spain and Ireland, Romania is accepting new loan from International Monetary Fund, loans that will not be invested in developing and modernizing the economy but in salaries and pensions. This consumer invested loans at extortionate interest rates will suffocate completely an ailing and failed economy as Romanian economy is.

Unemployment: with a rate of registered unemployment of more than 12% of the active population and with another 15% percent of the population already left out of the governmental unemployment aide, Romania tops many EU member countries with a real unemployment figure of more than 25% of the population. This figure must be put in perspective with more that 50% of the population below the poverty line and the full picture of the economic meltdown and social tragedy could be analyzed. Romania economy is in crises and no plans for a future development had not being adopted.

2013: The worsening of economic crisis.

The conclusion of the most important economic experts of Romania was clear: the crisis is not over by far, but has entered in a more difficult faze that will affect financial and banking system and economic fundament`s. The economic crisis will continue until 2017 at the earliest and a coming back cycle that will last until 2025. This decade will be without a doubt the lost decade of Romania but if the necessary measures are not rapidly taken to re-establish control on economic decline than we risk that Romania economy will not come back not even in 2025.

On 22 of August 2012 the taking office protocol and presentation meeting between Prof. Dr. Anton Caragea, Director of Institute of International Relations and Economic Cooperation and H.E. Abba Abdullahi Tijjani, Ambassador of Federal Republic of Nigeria in Romania had taken place.

Prof. Dr. Anton Caragea, Director of Institute of International Relations and Economic Cooperation and H.E. Abba Abdullahi Tijjani, Ambassador of Federal Republic of Nigeria in Romania

Prof.dr.Anton Caragea express his heart felted congratulation on the occasion of beginning of mandate of Mr. Abba Abdullahi Tijjani, appreciating that between Romanian and Nigeria there is a long and positive history of cultural, economic and political cooperation and a large area of common interests , designed to forge a good understanding between the two nations .

The Romania- Nigeria relationship has the ability to become an example of building an economic and cultural exchange area between Africa and Romania, remarked Professor Anton Caragea.

Now it is an auspicious moment for reconstructing and rebuilding the framework of dialogue and friendship between Romania and Nigeria, as the level of bilateral expectations is greater and the political and economic desire for such a favorable expansion of activities is marked clearly.

H.E. Abba Abdullahi Tijjani had expressed his satisfaction and appreciation for the encouragement`s offered by prof.dr.Anton Caragea and had stated that the vision of a economic, politic and cultural special relationship between Nigeria and Romania is a common shared vision.

This year is especially important for the bilateral relation as Nigeria is interested in restart the works of bilateral inter-governmental commission (last meeting was held in 2001) with Romania and to re-adapt mutual agreements to Romanian status as an EU member country.

The main area of bilateral cooperation could be economy and culture, for the next period, appreciated Ambassador Abba Abdullahi Tijjani.

The dialogue had continued on exploring concrete sphere of economic activity interesting for both countries such as banking systems, tourism cooperation, agricultural development, high-tech technologies where highlighted as main topics on the agenda.

During the meeting where tabled also different aspects and analyses of economic, political and cultural bilateral relations and on ways of fostering this dialogue on to the future.

The amicable dialogue concentrated also on the possibility of a Romania-Nigeria Economic Forum and a series of academic and political events destined to mark Nigerian economic and political advance in the African region.

The comprehensive dialogue led the foundations of a successful diplomatic mandate and fostering the relations between Romanian and Nigeria and constitutes a promise for re-launching a traditional romanian diplomatic action towards Nigeria.

H.E. Abba Abdullahi Tijjani, Ambassador of Federal Republic of Nigeria in Romania offers a nigerian painting to Prof. Dr. Anton Caragea, Director of Institute of International Relations and Economic Cooperation in sign of appreciation of his constant friendship towards Nigeria.

Ambassador Mba Ama Mba of Nigeria speech to Romanians

What is the significance of 1-th of October in the history of Nigeria? Why it was chosen as a National Day?

First of October 1960 is the day when Nigeria gained his independence from British Colonial Masters, before this date the political entity known today as Nigeria was created in 1914 by the amalgamation of North and Southern British Protectorates. From this day of 1-th of October Nigeria took her destiny fully and firmly into her hands as political leadership came to be exercise by his own citizens, freely elected also by his on citizens in universal suffrage. From this day forward Nigeria continued to build here national unity and to unify several national groups into one united national state. This was, is and will for ever be our mission. This year being 50 years from independence this date is even more important and celebrated.

How would your Excellency describe the present day relation between Romania and Nigeria on political, culture economy?

The diplomatic relations between Nigeria and Romania has been cordial at political level. However there is need for improvement especially among high level officials. Consultations are going to actualize some treaties signed earlier that need taking cognizance of the new realities of Romania becoming an EU member. One of this is the Agreement between Governments of Romania and Federal Republic of Nigeria on cooperation on military field. Top officials of the two countries meet in Bucharest early this month and harmonized the draft. It is hoped that Ministries of Defense of two countries will sign it early in the next year. We have also in the cultural field Nigerian artist resident in Bucharest that held several exposition showcasing Nigerian and Romanian themes. These have been well received by the Romanian public and foreigners alike.

Nigeria today and Nigeria of tomorrow, how is developing and changing the most populated country of African continent?

We Nigerians and our government we have done to outstanding things; first he adopted a zero tolerance policy on corruption and shaped a policy based on seven programs of economical and infrastructure development of the country.

Our visionary government has establish a long term plan called Nigeria 2020 in order to transformed the Nigerian economy as to be one of the 20 most industrialized country by this period end . The aim is that in 2020 we will have a GDP of 900 billion and an income per capita of 4.000 dollars. This is a firm intention of transforming Nigeria economically, politically socially and cultural. Our country also has undergone a complete resolution of the Niger Delta Conflict establishing a special minister for the developing of the region and granting an amnesty for the misguided rebels. The former combatants accepted this amnesty and lay down there arms. A program of rehabilitation and social inclusion has also being established for them. This recent evolution will reassure all investors, including Romanians that we are having a secure climate for there investments. Plus, as a result of our government efforts Nigeria was elected with a high majority as a non-permanent member of the Security Council at United Nations. Furthermore our country was selected for here stability to host the International Youth Soccer Championship by the FIFA.

What is your Excellency message for the Romanian people at this anniversary time for Nigeria? How can we describe the development of Nigeria to Romanians for a better common understanding?

It is in the same time easy and difficult to make such a declaration. Nigeria and Romania has gone a long way from establishing diplomatic relations. Political, cultural and economic relations and the quantum of our bilateral relations are continually developing. Romania is a friendly country that assured the instructions for many young Nigerians in his learning institution. My message is that these relations could be foster in our mutual interest. Romania has the technological capacity that Nigeria needs to exploit fully here industrial, agricultural, oil and solid natural reserves. We appeal to Romanians to open there hearts and minds in order to cooperate with Nigerians counterparts to exploit this enormous bilateral potential.

In order to do this we have organized a strong Nigerian delegation that visited Romania and was well received by the Romanian Chambers of Commerce and by government authorities. The understandings reach then could be actualized in the nearest future. The area on which we must work now is the tourism, an area where Nigeria has enormous potential and we are warmly inviting Romanians to enjoy the friendship, human warm and hospitality of Nigerians. We have in Nigeria festivals and event throughout the year and on our land the sun is shining all year long.

Nigeria celebrates 50th Independence Anniversary.

Today, Nigeria celebrates her 50th Independence Anniversary as she remembers the sacrifice of the founding fathers of the nation, as well as our own responsibility to present and future generations.

Nigeria is a multi-cultural and multi-religious society with a population of about 150 million and over 350 spoken languages and dialects. There is therefore unity in diversity, and the freedom to live practice one’s creed freely and anywhere are upheld in the constitution. The Government and people are firmly committed to holding free, fair and credible elections during the next cycle of local, state and national elections. In this regard all the necessary steps to ensure the success of the process has been taken care of.

The Nigerian Government is also working to strengthen the institutional structures for combating corruption, financial crimes, and other vices like human and drug trafficking. The reform of the financial sector to make it more accountable and transparent continues. This is to ensure that Nigeria enjoys political stability, social harmony and economic growth. To this end, Nigeria as the largest market in Africa, welcomes serious investors from Romania and elsewhere, as the investment climate continues to improve and gives very good returns, especially in power, oil and gas, mining, agriculture and finance sectors.

President of Federal Republic of Nigeria Dr.Goodluck Ebele Jonathan

Nigeria emerged from colonialism in 1960 into a whole new world of independence and sovereignty, to take on the task of nation-building, and to play the international role that destiny had conferred on it. And although it has not been easy-going, the achievements so far outweigh whatever demerits against it. The country continues to tackle its myriad problems with sincerity of purpose and all the seriousness they deserved.

At the international scene, it had participated in numerous UN peacekeeping missions, as well as in similar regional endeavours like the ECOMOG that successfully brought peace to Liberia and Sierra Leone. In its capacity as Chairman of the Economic Community of West African States (ECOWAS), Nigeria is pleased to report that substantial progress has been made in bringing peace and stability to countries in the Community that were until recently embroiled in political crises. Nigeria has and will continue to be an active participant in the work of the United Nations, striving therein to promote national, regional and global objectives.

Like other developing countries, Nigeria has had its own fair share of challenges like the problems of restive youth, which it must overcome. On the positive side, Nigeria has recorded remarkable progress in the provision of universal basic education and is also in the process of harmonizing baseline data that would assist in the proper monitoring and evaluation of all MDG projects.

Nigeria greatly values its long and cordial bilateral relations with Romania and strives to find avenues for taking these relations to greater heights. Romanian scholarships given to Nigerian students over the years, including those on self sponsorship, have enabled them to make meaningful contributions to the various sectors of the Nigerian society like industry, academics, medicine and others. Conversely, Romanians are employed in the various sectors of Nigerian industry as skilled managers and engineers.

Long live Federal Republic of Nigeria, long live Romania, and long live Nigeria Romania relations.

Breaking News

On 15 July 2016 H.E. Professor Dr. Anton Caragea has received his official nomination as GLOBAL AMBASSADOR OF TOURISM in addition to the 2014 appointment as GOODWILL AMBASSADOR FOR WORLD PROTECTED AREAS AND NATURAL PARKS
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The Kingdom of Cambodia had received the official visit of Professor Dr. Anton Caragea high-ranking delegation in a joint effort to boost the friendship and dialogue on international stage.

The visit was inscribed in the bilateral decision to uphold the rapid development of the cultural, trade, economic and political ties.
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Between 22 May and 29 May 2015, H.E.Professor Dr. Anton Caragea has lead an official Monitoring Mission for Kazakhstan Early Presidential Elections
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Between 28 May and 7 June 2014 H.E.Professor Dr. Anton Caragea has lead an official European delegation to Republic of Zimbabwe and had assisted to World Best Tourist Destination Ward Ceremony for 2014.
H.E. Professor Dr. Anton Caragea was congratulated for his instrumental role in promoting Zimbabwe candidature for hosting World Best Tourist Destination for 2014.

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Between 25 November to 2 December 2013 H.E. Professor Dr. Anton Caragea was invited for an official working visit to United Arab Emirates on the occasion of the 42 anniversary of UAE National Day.
H.E. Professor Dr. Anton Caragea was congratulated for his instrumental role in promoting Dubai candidature for World Expo 2020.
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Between 30 October to 4 November 2013 His Excellency Professor Dr. Anton Caragea has being invited by Minister of Foreign Affairs of Azerbaijan to attend Baku International Humanitarian Forum 2013

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